Bloomin’ Brands Inc (NASDAQ:BLMN) announced a quarterly dividend on Friday, May 3rd, Wall Street Journal reports. Stockholders of record on Monday, May 13th will be given a dividend of 0.10 per share by the restaurant operator on Friday, May 24th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, May 10th.
Bloomin’ Brands has raised its dividend payment by an average of 14.5% per year over the last three years and has raised its dividend every year for the last 3 years. Bloomin’ Brands has a dividend payout ratio of 28.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Bloomin’ Brands to earn $1.71 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 23.4%.
Bloomin’ Brands stock traded down $0.38 during midday trading on Friday, hitting $19.31. The company’s stock had a trading volume of 5,329,600 shares, compared to its average volume of 1,624,499. Bloomin’ Brands has a 1-year low of $17.08 and a 1-year high of $23.16. The company has a quick ratio of 0.21, a current ratio of 0.30 and a debt-to-equity ratio of 9.20. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 12.87, a price-to-earnings-growth ratio of 1.21 and a beta of 0.30.
Several equities analysts have commented on BLMN shares. Zacks Investment Research raised shares of Bloomin’ Brands from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a report on Tuesday, March 12th. BMO Capital Markets lowered shares of Bloomin’ Brands from a “market perform” rating to an “underperform” rating and decreased their target price for the company from $23.00 to $18.00 in a report on Thursday, May 23rd. BidaskClub lowered shares of Bloomin’ Brands from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Guggenheim raised shares of Bloomin’ Brands from a “neutral” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Friday, May 24th. Finally, ValuEngine raised shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. Bloomin’ Brands presently has an average rating of “Hold” and a consensus target price of $21.70.
In related news, insider Elizabeth A. Smith sold 116,318 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $19.99, for a total transaction of $2,325,196.82. Following the transaction, the insider now owns 411,733 shares in the company, valued at approximately $8,230,542.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Elizabeth A. Smith sold 65,486 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $20.00, for a total transaction of $1,309,720.00. Following the transaction, the chairman now owns 411,733 shares in the company, valued at approximately $8,234,660. The disclosure for this sale can be found here. 4.39% of the stock is currently owned by insiders.
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Bloomin’ Brands Company Profile
Bloomin' Brands, Inc, through its subsidiaries, owns and operates casual, upscale casual, and fine dining restaurants in the United States and internationally. The company operates through two segments, U.S. and International. Its restaurant portfolio has four concepts, including Outback Steakhouse, a casual steakhouse restaurant; Carrabba's Italian Grill, a casual Italian restaurant; Bonefish Grill, an upscale casual seafood restaurant; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.
Further Reading: Return on Investment (ROI) Defined, Explained
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